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Nichols announces changes to board

Soft drinks company Nichols has announced some key changes to its board of directors this week, including the appointment of a new chief financial officer (CFO). Richard Newman will join Nichols’ board as a director, with effect from 29 January 2024, before becoming CFO and company secretary in March 2024 following the publication of the group’s preliminary results for the year to 31 December 2023. David Taylor, who is currently acting as interim CFO and company secretary, will step down from the board at the same time following a transition of responsibilities. Newman brings financial experience from a number of senior roles at companies including Cadbury, National Express and DS Smith. Most recently he was CFO at Accrol Group between 2021-2023. Also announced this week, non-executive director James Nichols will be moving on from the business and will leave the board with effect from 24 October 2023. It is expected that a new representative of the Nichols family will soon be appointed as a non-executive director, pursuant to the terms of the relationship agreement between the business and the Nichols family, which entitles the family to two non-executive board positions (assuming an aggregate of interest by the Nichols family of equal to or greater than 30% of the issued ordinary share capital of the company). Liz McMeikan, non-executive chair, commented: “On behalf of the board I would like to thank James for his significant contribution over the past 18 years and we wish him well and every success for the future”. She added: “Following a thorough search process, we are delighted that Richard will be joining the business and the board next year. Richard brings a wealth of highly relevant experience to the group and I have every confidence that he will make a substantial contribution to the group’s continued development and growth.” Nichols is an international beverage business operating in over 73 countries, with a portfolio of brands that includes Vimto, Slush Puppie and Sunkist among others.

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